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Equilibrium price and quantity of tickets

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Reference no: EM131263601

Suppose the typical Buffalo Bills fan has the following demand curve for Bills football games:

P = 100 - 10G where G is the number of games the fans attends.

a)  If the Bills operate in a perfectly competitive market and MC = 0, what are the equilibrium price and quantity of tickets?

b) Suppose the Bills are a monopoly and the marginal cost is the same as part (a), what are the equilibrium price and quantity of tickets? (MR = 100 - 20G)

Reference no: EM131263601

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